Singapore and Sri Lanka are both keen to pursue a bilateral free trade agreement, ministers from both countries have said on Wednesday June 02).

The Sri Lanka-Singapore Free Trade Agreement (SLSFTA) is expected to comprise commitments in trade in goods, services, investment and government procurement, said Singapore's Ministry of Trade and Industry in a release on Wednesday.

"The SLSFTA will enhance economic flows by lowering barriers to entry and providing greater market access for both Singapore and Sri Lanka companies," said Minister for Industry S Iswaran at a business forum held in Colombo, capital of the South Asian island-country, on Wednesday.